Islamic Micro Finance Journal
Vol. 1 No. 3 (2024): Edisi III, Oktober 2024

Analysis of the Impact of Usury Practices on Economic Stability from an Islamic Perspective

Nisa, Chairun (Unknown)
Hamidah, Nazala Zalfa (Unknown)
Kusumawati, Nabila Dhea (Unknown)
Taufikurrahman, Taufikurrahman (Unknown)



Article Info

Publish Date
29 Dec 2024

Abstract

This article examines the usury (riba) concept from an Islamic perspective and its implications for economic systems and social life. Riba, which means "excess" or "addition," is prohibited in Islamic teachings as it is considered a form of injustice and exploitation. Through an analysis of Quranic verses and Hadith, the article explains the theological and moral foundations behind the prohibition of riba. It also explores various types of riba, including riba nasiah (interest on loans) and riba fadl (unequal exchange of similar goods), as well as their impact on individuals and society. In the modern context, the article highlights the challenges Muslims face in avoiding riba amidst a global financial system dominated by interest. Proposed solutions include strengthening Islamic financial systems and educating communities on the importance of fair and riba-free transactions. This study aims to raise awareness about the dangers of riba and promote the implementation of Islamic economic principles in daily life

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Journal Info

Abbrev

imfj

Publisher

Subject

Religion Economics, Econometrics & Finance Social Sciences

Description

Islamic Micro Finance Journal: a Research Journal on Islamic Micro Finance is a peer-reviewed journal. Specifically, the journal will deal with following topics: Islamic Micro Finance Islamic Public Finance Islamic Monetary Islamic Fiscal Islamic Banking Islamic Capital Markets Islamic Investment ...